While reclaiming vat ensure proper procedures are followed

If you have already paid vat on the services or goods more than once and want to receive the original amount back then while reclaiming vat ensure proper procedures are followed. You may use the vat refund scheme for getting back vat that might already have been paid earlier in order to lower your costs and even get respite from the issue of double taxation over your goods or services.

Although you will not be allowed to deduct the VAT amount of taxes directly from your next vat return, you still be allowed to claim that amount in a separate vat refund scheme. This scheme is available in the UK subject to certain terms and conditions. Most eu countries that follow vat usually have such procedures where vat amounts that have previously been paid can be reclaimed. If you’re a vat registered trader in the UK that does not have vat registration in the nation of origin then you can claim any vat paid in that country provided you meet some other vat rules.

You may also claim vat paid in another eu country if you haven’t got relief through some other vat scheme. You will need to make use of a standard vat reclaiming form through the HM revenue and customs or hmrc vat website that looks after the customs, excise and vat department in the United Kingdom. However, since the reclaiming rules might differ abroad, you might need the expertise of an expert vat agent well-versed in uk vat and eu vat rules to successfully extract vat refunds in the relevant country. Your agent can act in your stead as soon as you let them have a power of attorney or a letter or authority to do so.

It is possible to go in for a vat reclaim no later than 9 months within a calendar year after you have paid the vat amount. You may first need to register your business name and also your agent?s name too in case you plan on reclaiming vat through your agent. You need to use the hm vat refunds service that’s a part of the vat online services offered by the hmrc vat website so as to save on time and energy. As soon as you submit the necessary online vat form you’ll be issued an online reference number that may indicate that your request is received by the vat refund department.

Although you will not need to send any paper documents, certain eu countries might ask for a scanned vat invoice to generally be attached with your vat refund request. Once you have sent your reclaiming request hmrc will be sending you a confirmation about the same within 15 days even though the concerned eu country will normally provide you with a vat refund within 4 months, if all your documents are typically in proper order. In the event further information is required from that eu country then you can expect your vat reclaim to be settled after around 8 months of the original application.

In order to avoid the problem of double taxation, most eu countries which have adopted vat including the UK offer vat refunds that can be claimed by following proper procedures and ultizing proper applications. You also can reclaim vat paid in any other eu country that follows vat by reclaiming vat back from that eu country by using the vat refund scheme.